The Saudi Arabian Mining Company (Maaden) and US firm Alcoa said on Wednesday they have moved into construction phase of a joint venture to build the world’s largest aluminium project.
In its initial phases, the $10bn joint venture will develop a fully integrated industrial complex, consisting of a bauxite mine and an alumina refinery, aluminum smelter and rolling mill on the Arabian Gulf coast at Ras Az Zawr.
Ground breaking has now officially begun to pave the way for construction of the smelter and rolling mill, the official Saudi Press Agency reported on Wednesday.
The smelter and rolling mill will begin operations in 2013 with the mine and refinery coming on stream in 2014, according to a latest report carried by Maaden website.
Abdullah Busfar, Maaden’s vice president Aluminium SBU and Project Management said: “The team have worked very hard over a long period of time to bring the project this far. It is a landmark day not only for Maaden and Alcoa but also for the aluminium industry in the Gulf and for the diversification of Saudi industry.”
Ken Wisnoski, president, Alcoa Global Primary Products, added: “Little more than a few months ago, we had an empty space on a map, an ambitious idea of the future and a combined team of dedicated, energised people.
“Now everything is coming together on schedule. In the near future, the place where we stand today will become the regional hub of the Kingdom’s new aluminium industry.”
Ras Az Zawr is the location for Maaden’s minerals industry complex, a 77 sq km site, 90km north of Al Jubail.
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